export Afrobeat, arts and fashion, adding that they were in high demand in the global market. According to him, the coun
INSIDE THIS ISSUE
VOLUME 3 ISSUE 34
Export News: Nigeria target $30bn in Forex with the Zero-Oil Scheme -1
Export Programme: Import Proceses LC & BC and More -2
Nigeria Targets $30bn in Forex with the Zero-Oil Scheme
The Nigerian Export Promotion Council has said that Nigeria is targeting $30bn in foreign exchange earnings with the zero-oil scheme. The Chief Executive Officer, NEPC, Mr. Olusegun Awolowo, stated this in Lagos during the second National Committee on Export Promotion meeting. Awolowo noted that the zero-oil plan was an export revolution that involved every state playing a significant role. “The zero-oil plan is aimed at earning at least $30bn from non-oil sources in the near to medium term as against the current earnings of about $5bn,” he said. The NEPC boss pointed out that major oil producing nations were planning their economy beyond oil export, and Nigeria must not be left behind. Also speaking, the Governor, Lagos State, Akinwunmi Ambode, commended the Federal Government for establishing the zero-oil policy, adding that it would boost the nation's balance of trade. The governor called for subsidy on other commodities to reduce the cost of food for Nigerians, adding that this was possible since rice subsidy had been successful. He said that beyond commodity export itemised in the zero-oil policy, Nigeria should evolve mechanism to export Afrobeat, arts and fashion, adding that they were in high demand in the global market. According to him, the country should put in place infrastructure and institutional frameworks to drive its zero-oil policy to success that will translate to wealth for the country. He stressed that Nigeria with the highest Gross Domestic Product in Africa must take advantage of its large market to boost export of its natural endowments. Excerpt: Punch
for June 2018
Export Education: US-China Trade War Reinforces the Necessity of AfCFTA -3
Export Training Products: Export Pro and More -3
Export Miscellaneous: Commodity Prices, Infographs and Lots More -3&4
Top News Nigeria Targets $30bn in Forex with the Zero-Oil Scheme Why Nigeria Must Not Sign Africa’s Free Trade Agreement Export Inflow at Lekki Free Zone to Hit $6bn by 2020 FG Moves to Finalize Solid Minerals Export Guidelines Diploma Admission for Batch 2 is still on
Why Nigeria Must Not Sign Africa’s Free Trade Agreement The Manufacturers Association of Nigeria (MAN) says Nigeria must be cautious before rushing into a free trade agreement with other African countries. Frank Jacob, president of MAN, urged the federal government to renegotiate trade conditions that will impede economic growth in its review of the Africa Continental Free Trade Area (AfCFTA) agreement. He said MAN is apprehensive that the rules of origin (ROO) in the AfCFTA cannot be adequately enforced to guard against the influx of European Union (EU) goods into the Nigerian market. The rules of origin are used to determine the country of origin of a product for purposes of international trade. “We are afraid that the rules of origin cannot be adequately enforced because goods from the EU can find their way into one of the African countries that have bilateral agreement with the EU,” Jacob said. “When the goods get into the African country, they can repackage them, change the label from made in Europe to that of the African country. “That same goods will surely find its way to Nigeria which is the main target market for the EU.” Jacob said the market access of the agreement was a concern to manufacturers, as it leaves low protection to locally produced goods. “The agreement says that 90% of the tariff plan would be liberalised, leaving only 10 percent to protect manufacturers, and that 10 percent is too low,” he said.
“That means the rest of the 90% is open, duty free, people can import. “What we are saying is that the 10% is too small, even at the current Common External Tariff (CET) regime, we enjoy more than 10 percent.” President Muhammadu Buhari recently cancelled his trip to Kigali, Rwanda, to sign the framework agreement for establishing the African Continental Free Trade Area (AfCFTA) Excerpt: The Cable
Export Inflow at Lekki Free Zone to Hit $6bn by 2020
Lagos State Governor, Mr Akinwunmi Ambode on Thursday said the export inflow at the Lekki Free Zone (LFZ) in Ibeju Lekki area of the State is projected to hit over $6billion (about N2.159trillion) by 2020, saying it was time for Nigeria to develop sustainable roadmap to rev up export with particular focus on multi-sector products far beyond oil. Speaking at the 2nd National Committee Meeting on Export Promotion of the National Economic Council (NEC) held in Lagos, Governor Ambode said beyond oil, it was now important for the country to put in place infrastructure and other initiatives to support other sectors with the view to preparing them for export. He said already, the Lagos State Government had keyed into several export-oriented initiatives such as One-State One-Product Initiative, adding that
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it was gratifying to note that tremendous progress had been made in that regard. “Our efforts in this area include the development of Lekki Free Zone as a onestop export processing zone and we are happy to report that we have made tremendous progress in this particular export zone and I hope participants would have the time to see what it is that is actually going on in that place. “Just to give you a clearer picture of what we are saying. At the end of 2020 when the investment of the Dangote Industries and other Deep Seaport that we are putting in that place will fully come on stream, the export inflows that we are projecting for that place is over $6billion and that is just the way to go,” Governor Ambode said. Excerpt: Vanguard
FG Moves to Finalize Solid Minerals Export Guidelines
VOLUME 3 ISSUE 34
Diploma Admission for Batch 2 is still on
Nigeria Spent N26m Importing Toothpick From China, Germany - Daily Trust The Admission for the second batch of Executive Diploma in Export Business Management and Executive Diploma in Export Trade Finance is still in progress. This was announced last week by the management of 3T Impex Trade Academy. This Diploma programme is first of its kind on the African soil and it is in conjunction with the American Institutes of Extended studies. The first batch of the programme started in February 2018 with 13 candidates who are from different sectors of the economy including Banking, Manufacturing and Agricultural and Solid Mineral Sectors. The first batch will conclude their programme by the end of July this year while the second batch will be starting their programme from the first week of June 2018.
Minister of State for Mines and Steel Development, Abubakar Bwari, who stated this during the official commissioning of AMRAN favoring incubation Centre and the graduation ceremony of successful trainees, in Abuja, said the issue of exporting The classes hold on Saturdays at the 3T Impex Trade unprocessed solid mineral products would be Centre in Surulere from 8am. The programme is divided into three modules with each module lasting for a period adequately taken care of in the document. Bwari also said the establishment of gold refineries and faceting incubation centres in the country would go a long way in preventing gold and gemstone smuggling. He said the centre would no doubt facilitate the training of youths in the art of gemstone and also result into job and wealth creation. His words, “Nigeria is endowed with gold and gemstone resources located in several states that are currently exploited by ASM operations. “These are mostly smuggled out of the country in unrefined, unprocessed form leading to massive losses of earning for Government and the producer as the gold, gemstones are mostly not appropriately priced. Bwari commended AMRAN for their achievement in the gemstone subsector and enjoined them to adhere to the provisions of the Nigerian Minerals and Mining Act, 2017 and its pursuant Regulations, 2011. He added that there should be in place a transparent and competitive pricing mechanism that would facilitate patronage by gemstone producers and dealers. In his remarks, Chairman of AMRN Mining Company, Alhaji Lamba Zannnah, said the Incubation Centre was the first for Gemstone Faceting in Abuja. He said that a significant proportion of Minerals produced by Nigeria is exported in an unprocessed form to Countries which included Hong Kong, Thailand, Germany, China, USA. Excerpt: Sunnewsonline
for June 2018
OTHER HEADLINES
of two months with an end course test. Knowing fully well that export is the future of Nigeria, the management of 3T Impex has designed this programme to create on one hand, a pool of export trade professionals to manage the budding and established export businesses in Nigeria and on the other hand to develop highly skilled trade professionals that will be structuring export trade finance in different financial institution in Nigeria. Excerpt Tradeinfo.ng
Why Soybeans are at the Heart of the US-China Trade War - Bloomberg
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VOLUME 3 ISSUE 34
US-China Trade War Reinforces The Necessity of AfCFTA Cont'd from last issue
When all these strategies does not work especially for African nations that have leaders that have been liberated in their soul from the destructive effects of slavery and colonization they will start fighting you. They fight you with propaganda, they fight you with tariff and non tariff barriers, sometimes they instigate civil war to fight you. They set standards they know is unrealistic for developing nations to hinder their export like fair trade, organic certification, licensing for marine products and make the processes difficult knowing fully well that most businesses in Africa cannot meet up (this is not to say that African should not upgrade its product quality but the truth is that some of the requirements from the developed nations are not necessary). All these have affected our steel production, wheat production etc in Nigeria. It has caused Rwanda to be banned under AGOA and tariff
Export Training Products
Finally, I will like to repeat that the US-China Trade War has reinforced the necessity of speedy implementation of AfCFTA. I will therefore like to plead with the African leaders yet to sign to go ahead and do so and those that have signed should speed up the ratification processes in their various countries.
Export Miscellaneous: S/N
EXPORT ORDERS PRODUCT
SPECIFICATION
Zinc Ore Lead Ore Lead Oxide
1. 2. 3.
S/N 1.
Title: Export Pro
African share of world trade from the current level of less than 2% to a reasonable level like the European Union (EU) that contributed about 33% of world trade, North American Free Trade Agreement (NAFTA) contributed about 15%, Association of Southeast Asian Nations (ASEAN) contributed about 7% and the Gulf Cooperation Council (GCC) contributed about 6% in the year 2014.
imposed on their products by the United State because they banned the importation of used cloths and shoes from the US. So clearly, you can see that the US gave Africa AGOA to ensure that they retain their market in Africa. The developed nations does not give you nothing for something. This is necessitating the speedy implementation of the AfCFTA so we can begin to do more trade among ourselves and thus stimulate growth and development on the African continent. Africans should not expect that trade with developed nations will increase, they should expect to see similar replay of the Rwanda-US trade isues with other African nations that are waking up from their slumber very soon. We need to grow the current export within Africa from the current level of about 18% to an enviable height. It will also grow the
2. 3.
MINIMUM SHIPMENT
Purity 35% Purity 60% Purity 30%
60MT Per Month 60MT Per Month 60MT Per Month
LOCAL ORDERS PRODUCT
SPECIFICATION
PAYMENT
MONTHLY VOLUME
Zinc Ore Lead Ore Lead Oxide
Purity 35% Purity 60% Purity 30%
Bank Guarantee Bank Guarantee Bank Guarantee
120MT Per Month 121MT Per Month 122MT Per Month
Speaker: Bamidele Ayemibo Price: N 50,000 S/N
COMMODITY PRICES (LONDON METAL EXCHANGE AND BLOOMBERG) COMMODITY
Lead Zinc Cocoa Beans Copper
1. 2. 3. 4.
Tin Alluminium Cotton
5. 6. 7.
PRICES USD 2,321.00 USD 2,759.00 USD 2,465.00 USD 6,326.00 USD 19,425.00 USD 2,098.50 USD 84.45
UNIT OF MEASUREMENT
Metric Tonne Metric Tonne Metric Tonne Metric Tonne Metric Tonne Bushel Pounds
Title: Export Business Made Easy Speaker: Bamidele Ayemibo Price: N 5,000
EXPORT BUSINESS CLINIC
TRAINING FEE
N78,500
BENEFITS Free Export Licence Free subscription to join African Export Development Initiative (AFED) Guaranteed Contracts for Export (T&C Apply) Export Mentoring Program with 20% discount Free Export Book & Advisory Service.
Days & Time Weekdays - 9am Date - April 17th & 18th, 2018 Weekend - 9am Date - March 8th & 15th, 2018 Venue: 3T Impex Trade Center Address: 11D Bola Shadipe Street Off Adelabu Street, Surulere, Lagos, Nigeria.
CONTACT:
[email protected] 08067476669, 08026782568, 08091244449
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VOLUME 3 ISSUE 34
Infographics
Photo Speaks
EXPORT NIGERIA CAMPAIGN
Targets: FREE export seminar for religious organizations, clubs, cooperative associations, etc Objective: educate, enlighten, empower the public and create employment
...raising legion of exporters 08091244449
[email protected]
www.3timpex.com
www.tradeinfong.com
